CME Buys GreenX Shares It Didn’t Already Own From Group

GreenX Holdings, an emissions-trading bourse, boosted its
volumes by 21 percent in the first quarter to 106.9 million
metric tons, compared with the three months through December,
according to e-mailed data. The total represents 5.9 percent of
the volume of EU carbon allowances and United Nations credits
handled by ICE Futures Europe in London, the biggest exchange in
the greenhouse-gas market.

CME, the world’s largest futures exchange owner, bought 100
percent of GreenX as ICE has gained ground in the crude-oil
market. Carbon has grown to become the second-biggest European
energy market by open interest after crude, exchange data show.
Open interest is a measure of trading positions that have not
been closed.

After the deal with GreenX, carbon traders will be able to
offset margins held across CME’s energy contracts, including
coal, said Allan Schoenberg, a CME spokesman in London.
Schoenberg said CME was previously GreenX’s biggest shareholder,
declining to provide details.

Clients will also get access to 63 clearing members instead
of 16, Sara Stahl, managing director of global marketing at
GreenX, said today by phone.

Tom Lewis, GreenX chief executive officer, will stay, she
said. “For the time being, there will be no changes to any
GreenX staff.”

CME Oil Volumes

Aggregate Brent crude trading volume on ICE, owned by
IntercontinentalExchange Inc. (ICE) in Atlanta, jumped 8.2 percent to
a record 34.3 billion barrels in the three months ended March,
compared with a year earlier, according to figures from the
exchange. CME’s WTI aggregate volumes dropped 21 percent in the
same period to 40.5 billion barrels.

On Feb. 21, CME and Oman Investment Fund said they will
raise their respective stakes in the Dubai Mercantile Exchange
to support expansion at the Middle East oil bourse.